MiWay
Car insurance, what is Credit Shortfall?

My car was involved in a car accident on the 25th August, and i called my way to report the accident, and i go assitant at the scence. i was told that my car was a write off because the value of fixing the car was equivalent to the value of the car at the moment. i was request for a settlement letter from the bank of which the bank did and i forwarded it to miway consultant who was dealing with my claim. My car was insured for the higherst markt value as well as for the credit shortfall with the bank. i was advised to further request /or supply them with my the contract between me and the bank that financed me of which i did on a later stage i was advised that miway is not gonna pay the bank the whole amount that is outstanding becausev it is not covered by the credit shortfall. i needed clarity on what is meant by CREDIT Surtfall. i alo raised a conern that i dont remember some1 telling me about not covering things like service/delivery/intitation fee when you insure or the time i joined the insurance. i requested for a sales call to clarify if the consultnt has mentioned such things . but it is difficult for them to provide me with such info. dont hav a car nd i must pay extra cash

Company: MiWay
Country: South Africa
City: Johannesburg

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